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Cryptocurrency investor and co-host of Altcoin Daily Austin Arnold expressed the opinion that the Chainlink, Avalanche and Cardano projects are profitable for investment in the falling cryptocurrency market.
During his speech on YouTube, Austin Arnold (Austin Arnold) said that when analyzing cryptocurrency projects, he pays attention to five aspects:
by whom and how the project is financed;
whether the team is able to create and develop an effective product;
strong ties with strategic partners;
the extent to which the project is dedicated to solving real problems;
whether these problems will grow with the development of society.
According to Arnold, the first in the list of projects that meet all the requirements is the decentralized network of oracles Chainlink (LINK). He noted that Chainlink turned out to be one of the most sustainable projects in the previous bear market. The investor also drew attention to the activity of Chainlink developers and the success of the oracle network in such blockchains as BNB Chain (BNB) and Polygon (MATIC).
Next on Arnold’s list is the Avalanche smart contract platform (AVAX). The analyst called Avalanche “one of the best projects on the market” and a competitor to Ethereum. At the same time, in his opinion, the project effectively differs from Ethereum.
“Ethereum is trying to focus on decentralization, while Avalanche is focused on scalability and the maximum number of users attracted by the lowest commissions,” the investor said.
Arnold is also “very optimistic” about Ethereum’s other competitor, Cardano (ADA). The analyst claims that cardano’s ecosystem is “really thriving” – more than 5 million non-fungible tokens (NFT) have been issued on its blockchain.
Earlier, Galaxy Digital CEO Mike Novogratz (Mike Novogratz) said that given the policy of the US Federal Reserve and the “bearish trend”, the market expects another significant drop in altcoins by 70%.
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